<p>Danmam, after looking at an EFC calculator and seeing what it and CC posters had to say about award packages, we operated on the assumption that EFC (Every Freakin' Cent, as another CC poster puts it) would be about 30% of our before-tax income. That was not far off the mark. </p>
<p>Your family circumstances may vary; for example, we were surprised to find that our colleges adjusted our PROFILE EFC so that it was lower than our FAFSA EFC. We have high ongoing medical expenses and explained that when we submitted info. We do not have a second home, own a business, have investment properties, inheritances, trusts, etc. that might otherwise affect the calculation. (i.e., those things can be considered an asset for FA purposes, even though they may not be "liquid" and available as cash for college.) Our assets are the house, what's in the bank and secure employment. </p>
<p>MIT was our most expensive option after FA awards, though also the most generous on how it lets students apply external scholarships to the bill so that those outside awards actually do you some good instead of reducing grant aid. They were also the only school that guaranteed employment to any student on campus who qualified for FA (including those with only unsubsizided Stafford loans) and wanted to work. That would enable S1 to apply his summer earnings towards tuition, etc. and he could count on finding something (on campus, and possibly major-related) during the year to cover personal expenses. (Mikalye or MollieB, has MIT been able to keep that in place this year?) Had S1 decided to attend, it'd be painful, but we'd do it, and be thankful for the chance.</p>
<p>Sort of: From the SFS Website:</p>
<p>
[quote]
SFS doesnt earmark jobs for any students. MIT has an open job market, which means that any student, regardless of financial need, has the opportunity to get any job on campus for which he or she is qualified. However, we have more than enough positions available for all the students who want work.
[/quote]
</p>
<p>So the answer is yes in that I have never heard of a student looking for on-campus employment who did not get it, and there is more then enough on-campus work for all, but there are no earmarked financial aid jobs.</p>
<p>I didn't really read the thread, but to those arguing how the median is actually around 50k...</p>
<p>You guys realize that the country is different? I guarantee the median income in NJ/NY/MA is NOT 50k.</p>
<p>In the southern states, an income of 50k IS WEALTHY. I have grandparents in Alabama... They make ~50-60k a year, own about 10 acres, and pay $900 in property taxes. $900 for 10 acres... My dad pays ten grand a year for less than half an acre here in NJ. And this isn't jam packed NJ, we live in the "rura-er" suburban area.</p>
<p>My dad makes about $104k a year, and is in a more difficult financial situation with 2 kids and a decent size house than my grandparents in AL with 4 people living in the house on a 50k income.</p>
<p>It's just different. Cops in NJ make 100k a year. Cops in AL make 40k a year, and both live EQUALLY as well. You can't compare the COUNTRY's middle class to those of different regions. The northeast is much more inflated compared to some of the south (albeit not all, FL/TX compares) and much of the mid-west. </p>
<p>I'm hardly typing this logically, I'm typing this in 2 minutes about to go do something else so sorry if there are any mistakes.</p>
<p>So yeah, I feel as though there is some bias. Why can my grandparents living in AL who are wealthy down there send 2 kids to college for free, when my dad, just getting by with 2 kids, will have to pay a relatively high amount. Geographics should play a much bigger factor in aid decisions.</p>
<p>Obviously you can't make my grandparents pay that much because they don't make that much, but if they paid 10k for both kids combined they'd be in better shape than my dad paying 30k for my brother and I combined. But they get in free anyway. And we'd pay more than that if we both go to MIT, trust me.</p>